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the global economy is critical. europe is our largest export market, and it is in a slow decline that will go on for some time. china finds europe as their largest export market. we have an extraordinary relationship with china, with our exports. all of this is under challenge. the fundamental issue is to understand if we get rid of uncertainty, if we step up in a clear way and decide what we're going to do about our unemployment by using energy, by expanding tourism, by working hard to change our regulatory system, and if we face the fundamental realities, we can fix this. we only need one thing. we need leadership in the white house and congress. we need leadership in the business community. >> can this come significantly down? >> you asked if this is the new normal. >> that is the choice americans are going to make on election day. i think most americans would say no. the american spirit is alive and well. that will help us grow the economy. but you have to look at some fundamentals. for manufacturers it is more expensive than any other country in the world. that is after you take out the
start, i want to thank the mayor for your endorsement and support. thank you both for coming. economy. the whole race is about that. we held one of our first jobs fares here because we want to connect people with jobs. when you put a title on a bill in washington that says jobs bill, you have to read the bill. those bills in particular were rejected in a bipartisan manner, and that means democrats and republicans recognize that by taking for under $50 billion in taxes out of the private sector and giving it to washington to increase government spending, that is not the answer. the best answer is to come and put the money in the communities. i went down there today and he did not say, thank you for coming. please take this money and bring it back to washington. he said, go back to washington and tell them they need a reality check. we are tired of the overspending and the taxing and taking more money out of the economy. there are real challenges here. i used to live here. i worked and i lived over there. i understand. many businesses are hurting right now. regulatory tax uncertainty is
and the greatest peacetime expansion of our economy in the nation's history. by contrast, the decade checked by bush tax rates squandered our budget surpluses, produced net-jobs and culminated in the great recession. the lesson here is that the contrary -- is that contrary to supply ciders, the level of the top rate does not by itself dictate what happens to g.d.p. but a balanced budget aided by increased revenues just might restore confidence to investors and jump start our economy. for the third and final element of this tax reform model, we turn to investment income. it is time to reduce the sizable differential and the tax treatment of earned and unearned income. the reduction in the capital gains rate to 15% under president bush was a major contributor to the growth and wealth disparities we see today. the top 1% on average received 20% of incoming capital gains, 10 times as much as the rest of the country. capital gains makes up 60% of the income recorded by the forbes 400. the extremely low 50% rate in effect today is an allied air. it is the lowest rate on investment income since the
issue is what are we doing on taxes on the constructive part of the economy. we have to adjust them. >> george bush in 1990 entered into a deal and it was supposed to be balanced. the trade-off was to reduce spending. the higher taxes, for sure. reducing spending, we are still waiting. the negotiations are complex and there are many pieces to it. everything could end up being on the table. but there's no question that you have to occur long-term medical care entitlement costs. the number one spending program in the federal government. and will have to be looked at the health care reform and a bunch of other things that are complex. you cannot do one without doing everything. >> briefly i want to ask each of you whether you are optimistic or pessimistic, the things you think need to be done to restore business competitiveness can be done over the course of the next four years, however wins the election on november 6? >> i am highly optimistic. 100% certain it can all be done. the question you're asking is will they? i think there is going to be enormous pressure from business communi
and regulations that it would be a huge boost to the economy. those two reasons still exist. i think they will still model through because the alternative is potentially so bad. i could be wrong. you will see good news, bad news. it will work -- it will not work. they cannot do it all at once. they have the will. the politicians say there is no plan be. -- plan b. >> let's just keep globetrotting for second. the international financial meetings in japan. one thing coming out is the imf predictions for the slowdown in global economic growth. alcoa announced this morning the drop-off of global demand for aluminum which is sending an indicator. are you seeing the same thing in your business operations? you are a truly international institutions. are using a sign a slowdown? >> not quite like that. europe is in a mild recession. the government is going to spend 50% of the money. that will not go down. asia is a slower but it is nothing mystical or different than your read about. united states is fundamentally a stronger than people think, in my opinion. in latin america, some are better
is to grow the economy and create jobs. it is a plan that is estimated to create 7 million jobs. we think the government taking 20% of the families and businesses income is enough. president obama thinks the government ought to be able to take as much as 44.8%. if you tax every person and successful small-business making over $250,000 at over 100%, you can only run a government for 98 days. there are not enough rich people and small businesses to tax to pay for all their spending. the next time you hear them say, do not worry about it, watch out, middle-class, the tax bill is coming to you. that is why we are saying, eight out of 10 businesses, they file their taxes as individuals, not as corporations. near where i come from, the canadians dropped their tax rate to 15%. the average tax rate on businesses is 25%. the president wants the top tax rate to go above 40%. two-thirds of our jobs come from small businesses. it does not pay for 10% of the deficit spending increases. lower tax rates across the board and close loopholes. we have three bottom lines. do not raise the deficit, do not ra
jobs and the money to infuse into the economy? >> there are a lot of opportunities at this time. our state is suffering right now. when we look at arizona and the unemployment rate, the housing prices, the fiscal cliff, it's extremely. amid all of that, there is opportunity for us to grow. we have to look at this in short-term and long-term. what is it that we can do to bring jobs right now? what we have to do it is provide incentives to be able to get small business started again. we have to be able to look it infrastructure needs. one of the challenges as i have travelled around the state and i have gone to the old williams air force base. i have gone to the other air force base. i hear from the businessmen, we need infrastructure. what they tell me is, congressman flake is not available because he believes these things are bad. i think we ought to be doing is working with business to create infrastructure to make arizona the most attractive place to live and people will come with their ideas and business will grow. even the mayor of mesa, who is a republic has said to me, we canno
just passed the stimulus, the economy would grow at 4%. it is growing at 1.3%. >> when could you get below 6%? >> that is what our entire premise is about. look at the $90 billion in stimulus. the vice-president was in charge of overseeing this. $90 billion to campaign contributors and special interest groups. the department of energy, over 100 criminal investigations. >> an investigative committees spent months and months. they found no evidence of cronyism. i love my friend. i am not allowed to show letters, but go on our website. he sent me two letters, by the way, can you send me some stimulus money for companies in the state of wisconsin? >> you did ask for stimulus, correct? >> constituents applying for grants. we did that for all constituents. >> i love that. that is a bad program and he writes me a letter. the reason we need this stimulus, it will create growth and jobs. his words. and now he is sitting here -- by the way, that program, what the congress said was that it was a model. all this talk about cronyism. they investigated and did not find one single piece of evidence
Search Results 0 to 7 of about 8